IMF seeks to distribute new credit reserves this summer

The International Monetary Fund (IMF) plans to distribute an additional placement of 650 billion dollars of the Special Drawing Rights (SDR) to member countries this summer, reported the agency’s first deputy managing director, Geoffrey Okamoto.

Okamoto told reporters after the spring meetings of the IMF and the World Bankl that the allocation, approved last week by the countries of the G-20, will especially help middle-income nations that need to refinance their debt in potentially more adverse financial conditions.

“The goal would be to do that assignment sometime this summer. I hope it’s early summer,” he said. Okamoto.

MRA

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